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America’s Top 50 Philanthropists Gave Less in 2009

By

Robert Frank

Feb 8, 2010 1:00 pm ET

It is no secret that the rich have been giving less to charity.

The Chronicle of Philanthropy’s list of top 50 philanthropists now shows that total giving by the group plunged almost 75%, to $4.1 billion from $15.5 billion. The median gift fell to $41.4 million from $69.3 million in 2008.

The list includes many regulars–Bill and Melinda Gates, Michael Bloomberg, Eli Broad, George Soros, and Pierre Omidyar. But it also includes some less-known and newer givers, from top-ranked Stanley and Fiona Druckenmiller, to Louise Nippert and J. Ronald and Frances Terwilliger.

Aside from less dollars, the list highlights the continuation of a much bigger trend: rather than writing checks to big nonprofit groups, the rich are forming their own foundations to tackle global social ills. While this type of philanthropitalism, or venture philanthropy, has been emerging for years, the recession may speed up the desire by the rich for concrete, measurable returns in their quest to tackle deeper global problems. (It isn’t just the super-rich: see this inspiring new book called The Power of Half by former WSJ colleague Kevin Salwen about how one affluent family did its part to make the world a better place).

“Wealthy Americans increasingly see philanthropy as way to catalyze big changes in society, rather than choosing only to write a check for a new building or to further existing projects,” said Stacy Palmer, The Chronicle of Philanthropy’s editor. “More and more top donors now put their money, clout and vision into fueling the development of new ideas and shaping future leaders–whether in education, business ethics, economics or climate change.”

Here are the top 10 American philanthropists in 2009.

1. Stanley and Fiona Druckenmiller, $705 million to the Druckenmiller Foundation

2. John M. Templeton (Bequest), $573 million to Templeton Foundation

3. Bill and Melinda Gates, $350 million to the Gates Foundation

4. Michael R. Bloomberg, $254 million to 1,358 groups

5. Louise Nippert, $185 million to Greenacres Foundation

6. George Soros, $150 million: $100 million to establish Fund for Policy Reform; $50 million to Central European University.)

7. Eli and Edythe L. Broad, $105.2-million to the Broad Foundations

8. J. Ronald and Frances Terwilliger, $102 million: $100 million to Habitat for Humanity Intl.; $2 million to other groups